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Hi, I am looking for someone to write an article on purchasing in hospitality operations Paper must be at least 1750 words. Please, no plagiarized work!
Hi, I am looking for someone to write an article on purchasing in hospitality operations Paper must be at least 1750 words. Please, no plagiarized work! “An integrated purchasing system can help your property: Take full advantage of enterprise buying power to secure better terms and prices from Suppliers, improve inventory management and reduce waste by better monitoring supply levels, provide managers and employees with fast access to information to help them better server guests” (Purchasing systems solutions. 2004). Inventory controls is a double-edged sword that could cut both ways. Too little stocks could dampen customer spirits and may result in lower levels of goodwill for the company, while too much could involve overwhelming investments and carrying costs, which, in the long run, makes the hotel business, unviable and would put a premium on profits. Therefore, it is necessary that the economic ordering quantities (EOQ) could be arrived at, for each item of ordering quantity, in order that there are no superfluous investments locked up during ordering. There are dominant procurement policies in place in our hospitality unit. Depending upon the computer indents, placed by the respective departments, and authenticated by the departmental heads, Orders are placed to the Panel of Approved Vendors along with the quantities, specifications, time and mode of delivery and the estimated costs involved are simultaneously forwarded to finance and accounts department for their verification and accounting purposes.
It is important that “right selection and procurement of food and suppliers, suppliers selection and distribution systems including the forces affecting them” (Purchasing for the Hospitality Industry. 2007). As far as our hospitality industry is concerned, we have a well-controlled chain of events beginning from the receipt. .Hence, for most hospitality industries, it is imperative that adequate returns on investments be made and inventory coasts should be maintained, as low as is possible, in tune with the needs of the industry. .
